Cheap + Free + No = A Formula for Lost Business
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I was 22 years old when I took my first sales position. On the first day of training, there was a large jar at the front of the room. On this jar were the following three words:
1. CHEAP
2. FREE
3. NO
By taking this position, each person agreed that every time someone heard you say one of these three words, you put $1 in the jar. No exceptions. At the end of the month, we took that money and used it to cater our monthly meeting.
These are words that you and your customers use every day. Why should you erase them from your vocabulary? Listen up.
CHEAP
Do you really want to be known in your industry as having the “cheapest” product? By cheap, do you mean low-quality, or do mean that you are a cost-effective solution? In the English language, this word means both. So stop using it.
**Substitutes: cost-effective, low-cost, or affordable.
FREE
If you are going to pick up the cost of a service/product for a customer, take credit for it! For example, “Hi John, since you are purchasing two of our units today, the shipping on the second unit is free!” No it isn’t! Your company is paying for it! Make sure your customer recognizes that you are doing them a favor; one that puts more money in their pocket.
**Substitutes: no-cost, complimentary, covered.
NO
By telling a customer no, you are giving your competition the opportunity to say yes. It’s as simple as that. The more you can say yes, the more loyalty you are able to earn.
**Substitutes: YES.
The quicker you can eliminate these 3 words from your customer interactions, the better off your business will be. Your product is not cheap; it is high quality. The favors you do for your customers are not free; they cost you money and reduce your bottom line. If your customer needs something, the answer is yes. Write it down, make a commitment to it, and prepare to reap the benefits.
Like what Anthony has to say? Want to read more from him? Leave him a comment below or email him directly.
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